Sonntag, 19. Juli 2009

Arcandor

In a Spiegel interview, Madeleine Schickedanz, the largest Arcandor shareholder, argues that ex-CEO Middelhoff can't possibly be accused of doing anything improper. His only possible mistake according to her: He may have given too much leeway to his CFO during the real estate crisis.

I see. So the fact that Middelhoff invested millions of his personal money into real estate sold by Arcandor to a fund where he was co-investor is due to the excessive leeway he gave to his CFO. Interesting way of seeing things...